Top Industry Policy Issues

The Energy Independence and Security Act of 2007 included an expanded Renewable Fuel Standard, which the EPA used to develop a final rule effective July 1, 2010. To comply with the Standard, biofuel producers and importers must blend increasing amounts of biofuels into gasoline and diesel.

Consumers are among the first to benefit from free trade, and crude oil is no exception. Gasoline costs are tied to a global market; additional crude oil exports could help increase supplies, put downward pressure on the prices at the pump and create more jobs right here at home.

LNG, or liquefied natural gas, is a clear, odorless, noncorrosive, nontoxic liquid that is formed when natural gas is cooled to around -260 F. This shrinks the volume by about 600 times, making the resource easier to store and transport through marine shipments.

API has launched a new web-based map tracking liquefied natural gas (LNG) export projects, including those waiting for approval from the federal government. Approval of the multi-billion dollar export terminals could create thousands of American jobs, strengthen the U.S. geopolitical position, reduce global emissions, and help the Obama administration to meet its promise to double American exports.

In order to inform the current policy debate surrounding the granting of licenses for U.S. exports of liquefied natural gas (LNG), the American Petroleum Institute (API) commissioned ICF International to undertake a study of the energy market and economic impacts of LNG exports.

February 25, 2013 - The American Petroleum Institute (API) submitted these reply comments in response to various comments submitted during the initial comment period and in further support of the expeditious approval of pending LNG export applications by the U.S. Department of Energy (DOE). Included with the comments is the Status Report and Preliminary Results: The Economic Impacts of U.S. LNG Exports, prepared by ICF International.

This report highlights how America can choose a future where the oil and natural gas industry continues to contribute to our nation’s economic recovery and job creation; to develop and utilize state-of-the-art technologies to safely discover, extract, refine, and transport oil and natural gas; and to enable the U.S. to become a global energy superpower.

A new state-by-state analysis shows that 18 U.S. states could gain over 5,000 jobs each in 2020 from exports of U.S. crude oil. The U.S. is poised to become the world’s largest oil producer, and access to foreign customers will create economic opportunities across the country.

The Environmental Protection Agency (EPA) should not change the current ozone standards. The U.S. government has a responsibility to keep federal regulations sensible and not change standards on businesses and consumers needlessly.